Canadian Solar (NASDAQ:CSIQ) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a research note released on Tuesday.

CSIQ has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. The Goldman Sachs Group cut Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price target for the company from $19.00 to $11.00 in a report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 price objective for the company. Finally, Mizuho initiated coverage on shares of Canadian Solar in a research note on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.58.

Canadian Solar Trading Up 7.6 %

Shares of NASDAQ CSIQ opened at $13.29 on Tuesday. The stock has a market cap of $879.25 million, a price-to-earnings ratio of -110.75, a PEG ratio of 8.89 and a beta of 1.27. The business has a 50 day simple moving average of $12.33 and a 200 day simple moving average of $13.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. Canadian Solar has a 52 week low of $10.60 and a 52 week high of $25.43.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, research analysts predict that Canadian Solar will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in Canadian Solar by 37.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock valued at $520,000 after acquiring an additional 8,404 shares in the last quarter. Barclays PLC raised its stake in shares of Canadian Solar by 494.4% in the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock valued at $1,932,000 after purchasing an additional 95,924 shares in the last quarter. State Street Corp lifted its position in Canadian Solar by 5.6% in the third quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after purchasing an additional 25,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Canadian Solar by 1.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after purchasing an additional 1,522 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Canadian Solar during the third quarter worth $1,109,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.